DUS19n Envelope ID.. 9ECF13FC-9C9AD>B1lD8S44BFF£ Charity registration number 234710 {ETrgland and Wale51 PILKINGTON GENERAL CHARITY FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND LEGAL ANDADMINISTRATWE INFORMATION Trustees Mr N Jones Mr A P Pilkington Mrs E Ashton Charity numb•r 234710 Prlnclpal addr 3rd Floor Rathbones Trust Company Limited Port ol LNerpool Building, Pier Head Liverpool L31NW Independent examiner John Dufy Ralhlyy)es Trust Company Port of Liverpool Bulding Pier Head Soll¢itor$ Brabners LLP Horton House Exthange Flags Livefpool L2 3YL Investment advlsors Evetyn Partners Limited Royal Liver BuildiThJ Pier Head Liverp1 Merseyside L3 1NW
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND CONTENTS Page Trustees, rewrt Independent examinerfs report Statement of financial tIVItieS Balance sheet Slatemenl of cash flows Noles to the financial stateff*nis 7-12
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2024 The tnjslees present their annual rerKt and financial stslements for the year ended 30 Juw 2024. The financial slalemenls have been prepared in accordance with the acujunting pcliryes Set out in note 2 to the fin8n¢i81 st8tements and comply wrth the ch¥riVs Trust Deed. the Chartlie5 Act 2011 8rKI 'Accovnting and Repofting by Charities.. Slalement of Recommended Praob"¢x applicable lo thatttie5 pieparing their accounts in ac¢ordan¢e with thé Finanual Repo"ng Stsndard appli¢abl8 in UK and Republi¢ of Ireland IFRS 1021. leffective 1 January 20191. Oble¢tlves and a¢tlvltles The Trust was created by a Deed of Seluement dated 10 May 1950 uThJer the ternis of which Miss Constan Pilkington and Miss Christine Pilkinglon resetlled the Funds of whth they were lrfe tenants under the terms of the Will of the Late Colonel W W Pilkington. Under the terms of the Trust Deed the tsustee5 are enpowered lo pay or apply the income for such Gharitab purposès as thèy in thèir absolutè discrètion think fft_ The trustees also have power to 3¢fvaneè capital. Public Benefrt Statement The Iruslees have paid due regard to gui(tsn¢e issued by Il Charity Commission in deciding what activhies the charity shoukl undertake. The Charities Act 2011 highlights the requirement for all charities to have charitable purposes or aims that are for the public benefit. Given the range and nattjre of the donations, the TrLJStees consider that they are able to show thereby that not onty a their purposes and aims for putrAic benefit but also the 8xecution ol ihose aims m8èl Ihe crii81ia sel by the Charities Acl 2011. Grants During the year and8d 30 June 2024 rK) grants of were awarded. Flnan¢lal review The Financial Statements, in respect of the year ended 30 June 2024, show incomings of £60,980 and total resources expended of £12,859, resulting in nel inMingS of £48,121 before any gains or losses due lo investment disposals or revaluation5. Reserves Policy The Trustees do not cL)nsider the underlying capital to be reserves since il forms the sole source of income for the Trust. 11 is not the intention of the Trustees to buikl up LY maintain income reserves. any under expenditure of income being b818nce by over experKIitU in precding or subsequent years. Taxation Status The Twsl is a registered charity and as such is not liab lo Corp)ralion T8x. Income Tax oi C8pitsI Gains Tax on income and gains generated in the year. Irrecoverable VAT is induded in the asset cost or the expense lo which it relates. Investment Policy The investment policy is lo maintain a babnce between capital growth and income by which, over the bong term. it is inlended to maintain the real value of the pital and inu)me. The trustees invest in equils, unil trusts, lix8d intèrèsl and cash, with a madium risk profi as seams appropriatè. These objèclivÈs ar8 rèvi8w8d annually. The investment manager prowdes regular rep(xts to the trustees who review the perf0mnCe of the portfolio at least Mice a year. Rl$k Management The trustees has assessed the major risks to which the charity is exposed, aThJ are satisfied thal systems are in place to mitigate exposure to the major risks. These sYStets aTrJ procedures are monf(ored on a regular basis by the Trustees.
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Struthre, goveman¢e and management The trustees who seNed during the year and up to the date of signattjre of the ffinawal statements were: Mr N Jones MrA P Pilkinglon Mrs E Ashton The current Trustees would appoint new Trustees from within the wder Pilkington family concentrating on family members who have experien in the charity sector or who have other rdevant sknll sets. The Iraining necessary is provided by senior famity members who have been involved wth Ihe chanty for many years. The Charity's day lo day management is delegated to one of the Trustees lat present A P Pilkingtonl and employees of Rathbones. Trustee Expenses The Trustees do not charge any fees or dsim any reimbursement of their rSOnal general managewnenl costs. Trustees. Complaints Policy All complaints are considered by the Trustees of the Chanty and responded to wthin three weeks. Asset cover for funds The Tw51ees are satisfied that the chartvs assets are available and adequate lo fulfil its obligations in relats'on to those funds. The Trustees have deci(Jed lo resth.ct annual expenditure wthin the income arising in the year lunless there arg spe(aal orlMsn) in to preserve ts long temi viability of the Trust. The tnjslees. report was approved by the Board of Truslees. 5*n•d by 03ODCPH)9584C2 Trustee 17 February 2025 1 9-09 AM G DalÈd: .........................
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PILKINGTON GENERAL CHARITY FUND I report to the Iruslees on my examination of the financial ststements of fvlkington General Charty Funé (the charity) for the year ended 30 June 2024. Responsibilities and basis of report As the truslggs of Ihe ¢harity you are responsible for the preparatK)n of Ihe financial stateThnts in accordance with the requirements of the CharitiesAct 2011. I report in r&sp8Ct of my èxamination ol thè charity's financial statèm8nts cArri8d out under s8Ctk)n 145 of the Charilies Act 2011. In Carrying oul my examination I have ftllowed the Directions given by Ihe Charity Commission under section 14515llbl of Ihe Charities Act 2011. Independent examlnerfs statement Your attention 15 drawn lo the fact that the chartty has prepared financial statements in acLordance with Accounting and Reporting by Ch8ritses preparing Iheir accounts in accordan wilh the Fin8ncial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102} in Preferen lo the Accounting and Repoftsng by char"e$. Statement of Recofflmended Pra¢b"ce issued on 1 April 25 Vdhich is referred lo In the 8Xtant règulations but has now bèèn withdrawn. l understand that this has been done in order for financial statements to prowde a true and fair wew in accordance with Generally Accepted Accounting Practice effective for reporling periods beginning on or after 1 January 2015. I have completed my examination. I confim) that no matters have come to my atten1iC in connection with the examination giving me cause to believe that in any malerial respect-. accounting record5 were not kept in respect of the charrty as required by section 130 of the Charities Act 2011. the financial statements do nol accord with those records". or the financial statements do not wlh th8 appIab requiremen15 concerning the form and conlenl of financial statements sel out in the Charitses (Accounts and Reports) Regulations 2008 other than any requirement that the finanal statements give a true and fair view, whth 15 not a malter considered as part of an indawn<lenl examination. I have no concems and have wme across no other matters in connection with the examination lo which attention should be drawn in this rep(yt in order to enab a proper undefstandiry ol the financial slalements to b8 r8ached. J L Duffy BA{Hons1 ATh TEP FCCA Port of LiverpLMJI Buikjing Pier Hèad Liverpcd L3 1NW Dated..
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestrictod Unrestrictèd funds funds 2024 2023 Notes In¢ome from: Investments 60,980 54,506 Expondlturè on.. Raising funds Charitsble a¢tNities 7,781 5,078 7.607 56.185 Total expendilu 12,859 63,792 Nel gains on investments 10 199.857 41,577 Net inme1(eXpendIlUreI and movement in funds 247,978 32,291 Reconciliation of funds: Fund balances al 1 July 2023 2,422.041 2,389.750 Fund balances at 30 June 2024 2,670,D19 2,422.041 The statement of financial actwities indudes all gains and losw re(wnised in the year. All income and 8xpen¢Jilure derive from conb"nuing activibes.
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Fixed assets Invoslments 12 2,517.143 2,198,236 Current assets Debtors Cash at bank and in hand 13 4T7 154.849 346 225,909 155,326 226,255 Creditors: amounts falling due within on• y¢ar 14 12.4501 12,4501 Net current assets 152,876 223,805 Total assets less current liabilities 2.670,019 2,422,041 The fund5 of the charity Unrestricted funds 15 2.670.019 2.422.041 2.670.019 2,422.041 17 February 2025 1 9:09 r14T The financial statements were approved by the tnjstees on ......................... Swd by". DJODCF44J95e4C3 Tru$tee
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Cash flow$ from oparatlng a¢tlvltlos Cash absorbed by operations 112.8591 168.3321 Investlng actlvltles Purchase of investments Proceeds on disposal of investments Investment income reiVed {374.4871 255.437 60.849 1797.055) 740.583 55,371 N•t cash used in inv•sting activiti•s 158.2011 11,1011 N&t ¢a$h u$od In flnanclng act1vleS Net decrease in cash and cash equivalents 171,0601 169,4331 Cash and cash equivalents al beginning of year 225.gJ9 295.342 Cash and cash equivalents at ond of yoar 154.849 225.909
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Crlti¢al accounting estlmatss and ludgements In the application of the charity's accounting policies. Ihe tru51ees are required to make judgements, e5tim8les and assumpb.ons about the carryiry 8mount of assets and Ii8L)iltb"es that s not adity 8pp8rent from other source5. The estimates asated assumptions are based ¢)n hislori(zl eXrIenCe and other factors that are ¢onsidered to be relevant. Actual resutts may drfferfrom these ests"males. The estimates and undedying assijmptions are eWed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in whith the estimale is revised where the revision affects only that period, or in Ihe period of Ihe revision and fijture periods where the revision affects both current and future periods. Accounting policies Charity infomiation Pilkington General Charrty Fund i% a regiere drity whKh is registered wlh the Charity Commission of England and waS. 2.1 Accounting convention The financial statements have been prepared in accordance with the Charities Act 2011 and "Accountfng and Reporting by Charities". Ststement of Recommended Ptice applicatAe lo charilies preparing their accounts in accordance with Ihe Finanaal Rew)rting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting perio(Js commencing from 1 January 2016)- The charity is a Public Benefft Entity as defined by FRS 102. The financHI statements have departed from the Charities (Accounis and Reports) Regulats'ons 2008 only to the extent required to provide a tnJe and fair view. This departure has involved folk)wing the Statement of Recommended Practice frA charities apptying FRS 102 rather than the version of the Stalement of Recommended PractiLE whith is referred to in Ihe Regu10n$ but whi( has sin(% been withdrawn. The financial sialemenls aTr prepared in sterfing, which is the functional currency of the charily. Monetary amunts in these financial statements are rounded to the nearest £. 2.2 Golng concern Al the time of approwng the finanoal statements. the trustees have a reasonable expectation that the charity has adequate resources lo ¢onb"nue in operab.onal existence for the foresee8lAe future. Thus the trustees conlinue lo adopt the going concern basis of accounting in preparing Ihe financial staiemenls. 2.3 charftab funds Unreslricled funds are availab for use at the discretM)n of Ihe Iw51ees in furtheran of their charitable objectives unless the funds have L deSnated for other purw)ses. Grants are onty made to Charitses wistered wrth the Charity C)miSSIon. No grants a ma(k to individuals. 2.4 Income Income is rec(unised when the thartty is legalty enliued to it after any performance GOfKlilN)n5 have been met, thè amounts can ba Measur rdiably. and rt is probab that incomè 11 bè rècèivèd. Invèstmènt incom8 is accounted for on an accruals ba&s in the period lo whith it relates. Cash donations are re(¥yJnised on reipt. Other dat)nS are Teu)gnised ore Ihe (arity has been notffied of the donation. unkss performantx )nditiOnS require deferral of the amount. Inme tax recoverable in rèlalK)n to donatn$ reL*ived under Gift "d or dee¢Js of covenani is (jniSed at thè time of the donation.
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies IContinuod} 2.5 Expenditurè Management and administration costs comprise those costs incurred in running the charity. They have been appxjrtioned on the basis of time spent between charitatAe activib"es. cost of raising funds and govemance 05ts. Grants are included in the financial ststements when approved by the Trustees . Govemance costs consist of those costs aswated with the ov8rall running of tho charity and meeting slalutory and regulatory requirements. 2.6 Fixed asset investments Fixed assets investmenis repreSt listed investments which are slated at markel valualion, wherè market value presents the mid market value on the last tradin9 day before the year end. Any unrealised or realised gains arising from inveslments are accounted for in the StaterrEnt of Finanaal Activilies. Fixed assets investrnents preSent listed invesknents which a ststed al market v8lu8tion as follows: al listed securities ar8 vlaued al the mid market value ruling al the aG¢ounling dale. bl listéd sécurities held in foreign currÈnues havè beèn valuèd at Ihè mid mart(èt valu8 and translatéd into their sterling equivalents at the rates ruling at the accounbng date. cl Gilts are valued at the mid market value ruling al the balan sheet dale and include interest which has accrued up to that date. The investments are held in Crest and registered by Tilney in the name of their nominee wmpany. Other re¢ognised Gains and Losses Realised gains and losses on investments a (2knJlaled as Ihe drflerence between sales prOed$ and their markel value at the stsrt of the year. or thwr subsequent cost and ale charged or credited to the Statement of Financial Actiwli&s in th& r of disposal. Unrealised gains and k)sses represent the movemenl in markel values during Ihe year and are charged or credsted lo the Statement of Financial Activrties resulbThJ from revaluing investments to market value at the balance sheet date. 2.7 Cash and ¢ash eqUivaThts Cash and cash equivaknts indude cash in hand, deposits held at cal wth banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shi)wn within borrowings in currenl liabilities. 2.8 Flnanclal Instrumants The charity has elected lo apply the provisions of Section 11 'Ba5ic Financial Instruments, arKJ Section 12 'Other Financial Inslruments Issues of FRS 102 to all of its finanual instruments. Financial inslrumenls are recognised in the d)aitWs balan sheet when the tharity comeS paty lo the conlractual provisions of Ihe 1nstnjnnL Financial assets and Ila.11tiS are offset, with the net amounls presented in the financial statements, when there is a legalty enforceable right lo set off the recognised amounts and there is an intentson to setde on a net basis or to realise the asset and setue the liability simultaneousty.
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies IContinuod} Basic financial assets Basic financial assets, which indude debtors and cash and bank balans, a initially measured al transaction pri induding transaction costs and are subsequenuy carrEd at arThJrtised cost using the effective interest method unless the aangement ¢xiiistitutes a financ4ng Iransach"on, where the transaction 15 measu al the present value of the future ceIptS dIUnted at a market rate of interest. Financlal assets dassified 8$ receivable within or* year a not am0Sed. Basic financial liabilities Basic financial liabilities, induding credilors and bank loans are initially recognised al transaction price unless tho arrangement constitutes a financing transaction. where Ihe dobt inslrurnent is measured al the present value of the future paymenls dIscJnIe at a markel rate of interest. Financial liabilities dassified as payable within one year are not amortised. Derecognition of financial liabilities FinanGial liabilities are dore(x)gnised when the thartty's (x)ntra¢ttJal obligations expire or are disd)arged or CAncelkd. The Trustees do not invest in any comtAex ffinanaal InstrUThnts. Incom8 from Inv•stm8nts unStrICted Unrestricted funds funds 2024 2023 Income from listed investments Other in(r)me Other income 60,774 176 54,204 276 26 60.980 54,506 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Investment management fees 7,781 7,607 7.781 7.607
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitsble adiviti¢$ 2024 2023 Grant fvnding of activities Share of g0Veman costs (see note 6) 51,000 5,185 5.078 5.078 56,185 Support costs allocated to actlvitie$ Total 2024 Total 2023 Governance 5.078 5,185 2024 2023 Governance costs comprlso: Audit fees Legal and professional Share of support costs 72 4,800 313 4.800 278 5,078 5.185 Net movement in funds 2024 2023 The nel movement in funds 15 5tsted after chargintyIcredng}'. Fees payable for the independent examination of the Charits financial slalements 72 Trustees None of the trUee$ (or any persons connecled wth them) received any remuneration or benefits from the charity during the year. Employees The average monthty number of employees during the year was.. 2024 Numbor 2023 Numb8r Tot 10-
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Employe8S IContinuod} There ware no empkjyees whose annual r8mun8ratI was mr8 Ihan £60.(X)O. Rmura110n of key managemnt personn•l The remuneration of key managernent personnel was as follows.. 10 Galns and losses on Investments Unre$trl¢tsd Unre$trl¢tgd funds funds 2024 2023 Gainsllk)ss8sI arising on= Revaluation of investments Sale of investments 227,586 127.729} 77,897 136,3201 199.857 41,577 11 Taxation The charity is exempl from taxalmjn on its acbvibes because al its income is applied for charitable purposes. 12 Flxed asset invesbnents Listed ifftvèytments Cost or valuation Al 1 July 2023 Additions Valuation canges Disposals 2.198,236 374,487 227,586 1283,1661 AI 30 June 2024 2,517,143 Carrying amou AI 30 June 2024 2,517,143 At 30 June 2023 2,198,236 13 Debtors 2024 2023 Amounts falling due within one year- other debtors 477 346 11
DUsign Envelope ID.. 9ECF13FC-9C9AD>B1lD8s44BFF6( PILKINGTON GENERAL CHARITY FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 14 Creditors: amounts falllng due wlthln ono year 2024 2023 Accruals and deferred income 2.450 2,450 Accruals relate to accLxJntsncy fees 15 Unrostrict•d funds The unrestricted funds of the charity o)mprise the unexpended b3reS of donations and grants which are not subject to specific )nditionS by donors and granlors as to how they may be used. These indude designated funds which have been Sel aside out of unrestricted funds by Ihe trustees for specific purposes. At 1 Juty 2023 Incoming resources Resources expended Gains and losses At 30 June 2024 General funds 2.422.041 112.859) 199,857 2,670,019 Prnvlous yoar: At 1 Juty 2022 In¢omlng R¢$oureos resources eXP9ndgd Galn$ and At 30 June lo$se$ 2023 General furKIs 2.389.750 54.506 163.792) 41,577 2,422,041 16 Related party transa¢tions There were no disclosable related paty transactions during the year {2023- none). 17 Anafysis of ¢hanges in nel funds The charity had no material debt during the year. 18 Cash generated from operatlons 2024 2023 Surplus for the year 247,978 32,291 Adjustments for: Investfflenl income recognised in statement of financial activilies Loss on disr*)sal of investments Fair value gains and losses on invesknenls 160,9801 27.729 1227,5861 ($4,506) 36.320 177,8971 Movements in worknng capitsl.. Ilncreaselldecrease in debtors {Decieasel In creditors 736 15,2761 Cash absorbed by operations 112,8591 168,3321 12-